Seminar underlines imperative of sustainable private sector growth. — VNS Photo Hoàng Nam Sustainable development of the private sector is an urgent requirement for Viet Nam in the context of the trade war between the US and China and fourth industrial revolution, a seminar heard in HCM City on Thursday. Deputy Minister of Planning and Investment Nguyen Van Hieu told the 5th Forbes Business Forum on ‘Building Sustainable Growth’: “In recent years the private sector has contributed significantly to the nation’s economic growth. “The Party and State strongly encourage the sector since it is a major driver of economic development by creating an attractive business environment with various incentives.” Nguyen Thi Phuong Thao, CEO of VietjetAir, said: “Viet Nam has many challenges and opportunities in this new era.” She listed trade wars, exchange rate fluctuations, petrol price, exports, FDI, and lagging behind in technology as … [Read more...] about Seminar underlines sustainable private growth
How economic growth is calculated
GDP not an ideal indicator for growth, says Nobel laureate
Joint winner of the 2004 Nobel prize in Economics, Prof. Finn Kydland.(Source: VNA) Hanoi (VNA) - Joint winner of the 2004 Nobel prize in Economics, Prof. Finn Kydland, spoke to Viet Nam News about the Vietnamese economy and growth on the sidelines of the 2018 Recontres du Vietnam – a development initiative that has brought world-renowned scientists to Vietnam for discussions since 1993. Q: What are your impressions of Vietnam’s economic growth in recent years? A: About two years ago I read on Viet Nam News (I think) about the willingness of the Vietnamese Government to let foreign companies set up shop in Vietnam, which I think is a good idea in developing economies. In the initial stages, typically an economy doesn’t have all the skills needed for growth to get momentum. It’s a good way to be willing or receptive to let foreigners become entrepreneurs in a country like Vietnam and they can help get growth going and Vietnamese can learn from them. Q: What … [Read more...] about GDP not an ideal indicator for growth, says Nobel laureate
GDP not an ideal indicator for growth
Joint winner of the 2004 Nobel prize in Economics, Prof. Finn Kydland, speaks to Viet Nam News about the Vietnamese economy and growth on the sidelines of the 2018 Recontres du Vietnam – a development initiative that has brought world-renowned scientists to Viet Nam for discussions since 1993. Joint winner of the 2004 Nobel prize in Economics, Prof. Finn Kydland. What are your impressions of Viet Nam’s economic growth in recent years? About two years ago I read on Viet Nam News (I think) about the willingness of the Vietnamese Government to let foreign companies set up shop in Viet Nam, which I think is a good idea in developing economies. In the initial stages, typically an economy doesn’t have all the skills needed for growth to get momentum. It’s a good way to be willing or receptive to let foreigners become entrepreneurs in a country like Viet Nam and they can help get growth going and Vietnamese can learn from them. What is your view on large … [Read more...] about GDP not an ideal indicator for growth
Economic census has major role
VietNamNet Bridge – Nguyen Bich Lam, director general of Viet Nam General Statistics Office (GSO), spoke to Thoi bao Kinh te Viet Nam (Viet Nam Economics Times) newspaper about the significance of the 2017 Census. The 2nd phase of the 2017 Economic Census is due to start in the next few days. What types of information will be collected in this phase? The 2017 Economic Census surveys the operation of the country’s economic entities, Party and Government offices, mass organizations including religious and belief organizations and foreign non-governmental organizations. In other words, the 2017 Economic Census is very big. With its wide-reaching scope, the statistics sector divided the census into two phases: the 1st phase from March to May and the 2nd phase taking place in July. In the 1st phase, we focused our work on enterprises and public … [Read more...] about Economic census has major role
How Vietnam got Trump’s White House to open its door
When Vietnam's prime minister sat down with President Donald Trump at the White House last week, it reflected a concerted Vietnamese diplomatic effort unmatched by most Asian peers. It also underlined the strategic importance the one-time enemy has secured under Trump in the face of China's increasing regional weight and despite a growing surplus that frustrates U.S. trade hawks. Among Asian leaders, Prime Minister Nguyen Xuan Phuc's reception followed only those for his Japanese and Chinese counterparts. Fearful it would lose security and business gains made under the Obama administration, Vietnam started to prepare as soon as Trump was elected. "We were already calculating options," said Tran Viet Thai, vice head of Vietnam's Institute for Foreign Policy and Strategic Studies, Diplomatic Academy of Vietnam. Vietnam got a call set up between Phuc and Trump more than a month before he took office. Helping to spearhead contacts was Vietnam's ambassador in Washington, Pham … [Read more...] about How Vietnam got Trump’s White House to open its door